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Many of the largest technology companies are looking for new ways to invest in artificial intelligence, which includes investments in their own products and research, as well as taking stakes in smaller AI companies.
On Monday, Amazon.com, Inc (NASDAQ: AMZN) announced an investment in the privately held AI company Anthropic. Here’s a look at past investments in Anthropic and who benefits from today’s news.
What Happened: Amazon announced a new collaboration with Anthropic that will see the companies work together on the development of AI models and provide access to the tools to Amazon Web Services customers.
The e-commerce leader said it will invest up to $4 billion in Anthropic with a minority ownership position in the company.
"We have tremendous respect for Anthropic’s team and foundation models, and believe we can help improve many customer experiences, short and long-term, through our deeper collaboration,” Amazon CEO Andy Jassy said.
Amazon will invest an initial $1.25 billion in Anthropic with an option to increase its total investment to $4 billion, according to TechCrunch.
Anthropic plans to raise up to $5 billion over the next two years to help fund and launch its subscription plan for Claude 2, a chatbot and to build a "frontier model” called Claude-Next.
The private artificial intelligence company has raised around $2.7 billion and was valued at $5 billion earlier this year.
The valuation of the company based on Amazon’s investment is not known.
The large investment in Anthropic by Amazon follows one of the biggest financial news stories of 2023 with Microsoft ...